Swedbank has announced its acquisition of Stabelo, a technology-driven mortgage company that primarily targets younger, digitally-savvy consumers.
Stabelo provides a fully digital mortgage experience, managing its own mortgage processes and collaborating with partners for distribution. This acquisition will enable Swedbank to expand its reach in the mortgage sector through enhanced branding, innovative technology, and additional distribution channels.
Tomas Hedberg, deputy CEO of Swedbank, stated, “The acquisition of Stabelo opens up new avenues for us to engage with diverse customer segments, particularly among younger demographics. We aim to support Stabelo’s growth by leveraging Swedbank’s financial resources and expertise.”
The initial purchase price is set at SEK 350 million (approximately $37 million), with the final price contingent upon Stabelo’s performance through 2028.
Founded in 2016, Stabelo currently employs around 30 staff members and will retain its brand identity in the mortgage market. CEO Hampus Brodén expressed optimism about the acquisition, stating, “With Swedbank as our owner, we will be better equipped to strengthen our offerings for both new and existing customers.”